PTC Therapeutics (NASDAQ:PTCT) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $46.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States. “

Several other equities research analysts have also commented on PTCT. Bank of America lowered shares of PTC Therapeutics from a neutral rating to an underperform rating and set a $38.00 price target on the stock. in a research note on Monday, October 18th. Credit Suisse Group lowered their target price on shares of PTC Therapeutics from $50.00 to $48.00 and set a neutral rating on the stock in a report on Friday, October 29th. Raymond James decreased their price objective on shares of PTC Therapeutics from $70.00 to $55.00 and set an outperform rating on the stock in a report on Friday, October 29th. Finally, Royal Bank of Canada cut their target price on shares of PTC Therapeutics from $45.00 to $42.00 and set a sector perform rating for the company in a research report on Friday, October 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $53.22.

Shares of PTCT stock opened at $43.75 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 9.27. PTC Therapeutics has a 52 week low of $34.85 and a 52 week high of $69.48. The stock has a market capitalization of $3.09 billion, a PE ratio of -6.75 and a beta of 0.90. The firm has a 50 day moving average of $39.28 and a two-hundred day moving average of $39.90.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, October 28th. The biopharmaceutical company reported ($1.89) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.78) by ($0.11). PTC Therapeutics had a negative net margin of 92.43% and a negative return on equity of 169.13%. The business had revenue of $139.00 million during the quarter, compared to analysts’ expectations of $118.87 million. During the same period in the prior year, the business earned ($1.03) EPS. The business’s quarterly revenue was up 68.1% on a year-over-year basis. Analysts expect that PTC Therapeutics will post -7.3 EPS for the current fiscal year.

In other PTC Therapeutics news, CAO Christine Marie Utter sold 747 shares of the stock in a transaction that occurred on Friday, January 7th. The stock was sold at an average price of $38.52, for a total transaction of $28,774.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Neil Gregory Almstead sold 756 shares of the stock in a transaction that occurred on Friday, January 7th. The shares were sold at an average price of $38.52, for a total value of $29,121.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,803 shares of company stock valued at $148,115. Corporate insiders own 5.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Berman Capital Advisors LLC boosted its stake in PTC Therapeutics by 66.3% during the third quarter. Berman Capital Advisors LLC now owns 795 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 317 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in PTC Therapeutics by 273.2% during the third quarter. Meeder Asset Management Inc. now owns 1,739 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 1,273 shares in the last quarter. First Mercantile Trust Co. boosted its stake in PTC Therapeutics by 18.3% during the third quarter. First Mercantile Trust Co. now owns 2,371 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 366 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in PTC Therapeutics by 33.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,385 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 850 shares in the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in PTC Therapeutics during the second quarter worth $206,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company, which engages in the discovery and commercialization of clinically differentiated medicines. It focuses on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology. The firm’s portfolio includes Translarna, Emflaza, Tegsedi, Waylivra, and Evrysdi.

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